NS&I: Introducing the Green Savings Bond
National Savings & Investments (NS&I), known primarily for their Premium Bonds product, are the long-standing, government-backed providers of savings options for UK residents. They have recently announced a new savings bond to be issued later in 2021 – the Green Savings Bond.
What is the Green Savings Bond?
The Green Savings Bond has been designed to contribute towards financing projects with the overarching aim of making the World greener, cleaner, and more sustainable. Any money invested in Green Savings Bonds will go to HM Treasury who will then allocate the proceeds to its chosen green projects. The six key areas the Government are focussing on include:
- Cleaner transport: for example funding for zero-emissions buses
- Renewable energy: such as wind power and hydrogen research
- Preventing pollution: for example carbon capture and storage
- Using energy more efficiently: examples include decarbonising hospitals and renewable heating
- Protecting natural resources: such as forest planting and conservation
- Adapting to a changing climate: for example flood defences
How much can I invest?
The Green Savings Bond will initially be offered as a three-year fixed-term bond, with savers able to deposit amounts between £100 and £100,000. The interest rate is yet to be confirmed but will be guaranteed for the duration of the bond.
If you would be interested in learning more about NS&I products, or other methods of investing sustainably, please get in touch with a member of our team.